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Investment Securities (Tables) | 6 Months Ended
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Jun. 30, 2020
Investment Securities [Abstract] |
Investment Securities |
| June 30, 2020
|  |  | Gross |  | Gross |  |  |  | Weighted
| Amortized |  | Unrealized |  | Unrealized |  | Fair |  | Average
| Cost |  | Gains |  | Losses |  | Value |  | Yield
| (In thousands)
Available-for-sale |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |
FNMA and FHLMC certificates | $ | 145,405 |  | $ | 4,412 |  | $ | - |  | $ | 149,817 |  | 1.97%
GNMA certificates |  | 138,084 |  |  | 3,681 |  |  | - |  |  | 141,765 |  | 2.30%
CMOs issued by US government-sponsored agencies |  | 47,498 |  |  | 1,114 |  |  | - |  |  | 48,612 |  | 1.97%
Total mortgage-backed securities |  | 330,987 |  |  | 9,207 |  |  | - |  |  | 340,194 |  | 2.11%
Investment securities |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasury securities |  | 196,358 |  |  | 982 |  |  | - |  |  | 197,340 |  | 1.63%
Obligations of US government-sponsored agencies |  | 1,796 |  |  | 28 |  |  | - |  |  | 1,824 |  | 1.39%
Other debt securities |  | 844 |  |  | 37 |  |  | - |  |  | 881 |  | 2.99%
Total investment securities |  | 198,998 |  |  | 1,047 |  |  | - |  |  | 200,045 |  | 1.63%
Total securities available for sale | $ | 529,985 |  | $ | 10,254 |  | $ | - |  | $ | 540,239 |  | 1.93%
| December 31, 2019
|  |  | Gross |  | Gross |  |  |  | Weighted
| Amortized |  | Unrealized |  | Unrealized |  | Fair |  | Average
| Cost |  | Gains |  | Losses |  | Value |  | Yield
| (In thousands)
Available-for-sale |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |
FNMA and FHLMC certificates | $ | 403,227 |  | $ | 846 |  | $ | 1,417 |  | $ | 402,656 |  | 2.00%
GNMA certificates |  | 215,755 |  |  | 718 |  |  | 4 |  |  | 216,469 |  | 2.33%
CMOs issued by US government-sponsored agencies |  | 55,235 |  |  | 16 |  |  | 490 |  |  | 54,761 |  | 1.97%
Total mortgage-backed securities |  | 674,217 |  |  | 1,580 |  |  | 1,911 |  |  | 673,886 |  | 2.11%
Investment securities |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasury securities |  | 397,183 |  |  | - |  |  | - |  |  | 397,183 |  | 1.60%
Obligations of US government-sponsored agencies |  | 1,967 |  |  | - |  |  | 6 |  |  | 1,961 |  | 1.38%
Other debt securities |  | 1,108 |  |  | 31 |  |  | - |  |  | 1,139 |  | 3.00%
Total investment securities |  | 400,258 |  |  | 31 |  |  | 6 |  |  | 400,283 |  | 1.60%
Total securities available-for-sale | $ | 1,074,475 |  | $ | 1,611 |  | $ | 1,917 |  | $ | 1,074,169 |  | 1.92%
Investment Securities by Contractual Maturity |
| June 30, 2020
| Available-for-sale
| Amortized Cost |  | Fair Value
| (In thousands)
Mortgage-backed securities |  |  |  |  |
Due from 1 to 5 years |  |  |  |  |
FNMA and FHLMC certificates | $ | 905 |  | $ | 947
GNMA certificates |  | 622 |  |  | 628
Total due from 1 to 5 years |  | 1,527 |  |  | 1,575
Due after 5 to 10 years |  |  |  |  |
CMOs issued by US government-sponsored agencies | $ | 39,142 |  | $ | 40,046
FNMA and FHLMC certificates |  | 108,476 |  |  | 112,013
GNMA certificates |  | 65,902 |  |  | 67,185
Total due after 5 to 10 years |  | 213,520 |  |  | 219,244
Due after 10 years |  |  |  |  |
FNMA and FHLMC certificates | $ | 36,024 |  | $ | 36,857
GNMA certificates |  | 71,560 |  |  | 73,952
CMOs issued by US government-sponsored agencies |  | 8,356 |  |  | 8,566
Total due after 10 years |  | 115,940 |  |  | 119,375
Total mortgage-backed securities |  | 330,987 |  |  | 340,194
Investment securities |  |  |  |  |
Due less than one year |  |  |  |  |
US Treasury securities | $ | 186,351 |  | $ | 187,026
Other debt securities |  | 100 |  |  | 100
Total due in less than one year |  | 186,451 |  |  | 187,126
Due from 1 to 5 years |  |  |  |  |
Obligations of US government-sponsored agencies | $ | 1,796 |  | $ | 1,824
US Treasury securities |  | 10,007 |  |  | 10,314
Total due from 1 to 5 years |  | 11,803 |  |  | 12,138
Due from 5 to 10 years |  |  |  |  |
Other debt securities |  | 744 |  |  | 781
Total due after 5 to 10 years |  | 744 |  |  | 781
Total investment securities |  | 198,998 |  |  | 200,045
Total | $ | 529,985 |  | $ | 540,239
Gross Realized Gains and Losses by Category |
| Six-Month Period Ended June 30, 2020
|  |  | Book Value |  |  |  |
Description | Sale Price |  | at Sale |  | Gross Gains |  | Gross Losses
| (In thousands)
Sale of securities available-for-sale |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |
FNMA and FHLMC certificates | $ | 229,571 |  | $ | 227,213 |  | $ | 2,358 |  | $ | -
GNMA certificates |  | 91,413 |  |  | 89,043 |  |  | 2,370 |  |  | -
Total | $ | 320,984 |  | $ | 316,256 |  | $ | 4,728 |  | $ | -
| Six-Month Period Ended June 30, 2019
|  |  | Book Value |  |  |  |
Description | Sale Price |  | at Sale |  | Gross Gains |  | Gross Losses
| (In thousands)
Sale of securities available-for-sale |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |
FNMA and FHLMC certificates | $ | 213,376 |  | $ | 211,549 |  | $ | 1,827 |  | $ | -
GNMA certificates |  | 141,125 |  |  | 138,177 |  |  | 2,949 |  |  | -
Total | $ | 354,501 |  | $ | 349,726 |  | $ | 4,776 |  | $ | -
Unrealized Gains and Losses by Category |
| December 31, 2019
| 12 months or more
| Amortized |  | Unrealized |  | Fair
| Cost |  | Loss |  | Value
| (In thousands)
Securities available-for-sale |  |  |  |  |  |  |  |
CMOs issued by US Government-sponsored agencies | $ | 35,417 |  | $ | 387 |  | $ | 35,030
FNMA and FHLMC certificates |  | 259,099 |  |  | 1,415 |  |  | 257,684
Obligations of US Government and sponsored agencies |  | 1,967 |  |  | 6 |  |  | 1,961
GNMA certificates |  | 19 |  |  | - |  |  | 19
| $ | 296,502 |  | $ | 1,808 |  | $ | 294,694
| Less than 12 months
| Amortized |  | Unrealized |  | Fair
| Cost |  | Loss |  | Value
| (In thousands)
Securities available-for-sale |  |  |  |  |  |  |  |
CMOs issued by US Government-sponsored agencies |  | 11,503 |  |  | 103 |  |  | 11,400
FNMA and FHLMC certificates |  | 4,919 |  |  | 2 |  |  | 4,917
GNMA certificates |  | 3,549 |  |  | 4 |  |  | 3,545
US Treasury Securities |  | 627 |  |  | - |  |  | 627
| $ | 20,598 |  | $ | 109 |  | $ | 20,489
| Total
| Amortized |  | Unrealized |  | Fair
| Cost |  | Loss |  | Value
| (In thousands)
Securities available-for-sale |  |  |  |  |  |  |  |
CMOs issued by US Government-sponsored agencies |  | 46,920 |  |  | 490 |  |  | 46,430
FNMA and FHLMC certificates |  | 264,018 |  |  | 1,417 |  |  | 262,601
Obligations of US government and sponsored agencies |  | 1,967 |  |  | 6 |  |  | 1,961
GNMA certificates |  | 3,568 |  |  | 4 |  |  | 3,564
US Treasury Securities |  | 627 |  |  | - |  |  | 627
| $ | 317,100 |  | $ | 1,917 |  | $ | 315,183

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